Anchor Capital Advisors LLC maintains a significant $8.18 Million stock possession in Otis Worldwide Corp. (NYSE:OTIS). However, other major companies including Impax Asset Management Group plc and Los Angeles Capital Management LLC have reduced their holdings in Otis. On the brighter side, DMKC Advisory Services LLC invested $1.86 Million, and the Fourth Swedish National Pension Fund purchased an additional 3,100 shares. Despite this, Otis Worldwide also witnessed an unexpected miss in its Q4 2024 earnings estimates by Zacks Research.
A new $2 Billion share buyback program is announced to commence in 2025, and corporate insiders have sold a notable amount of shares recently. On the other side, JPMorgan Chase & Co made a strategic acquisition of Otis Worldwide Corp shares. Notwithstanding, Otis's Q4 earnings missed estimates, while the Italian competition watchdog inaugurates an investigation into the elevator maker.
Otis declares a quarterly dividend of $0.39 per share and announces a massive $600 million notes issue due in 2031. With the mixed bag of news, investors remain uncertain about the company's future prospects.
Otis Worldwide Corporation OTIS News Analytics from Tue, 23 Jul 2024 07:00:00 GMT to Sat, 01 Mar 2025 12:06:47 GMT - Rating -2 - Innovation 0 - Information 6 - Rumor -4
